2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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25AA and 25AB
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35AA and 35 AB
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15AA and 15 AB
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14 AA and 14 AB
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Detailed explanation-1: -Provisions of sections 10A and 10B to override all other laws, contracts, etc. Power to dispense with meetings of creditors, etc. Special provisions for assessing damages against delinquent Directors, etc. Power of High Court to enforce schemes of arrangements, etc.
Detailed explanation-2: -2. Application of other laws not barred.-The provisions of this Act shall be in addition to, and not, save as hereinafter expressly provided, in derogation of the 5 [Companies Act, 1956 (1 of 1956)], and any other law for the time being in force.
Detailed explanation-3: -Section 5(c) in BANKING REGULATION ACT, 1949.
Detailed explanation-4: -Important sections of Banking Regulation Act, 1949 The act has 56 sections.
Detailed explanation-5: -(3) The 67 [chairman of the Board of directors appointed on a whole-time basis or a managing director] so appointed by the Reserve Bank shall draw from the banking company such pay and allowances as the Reserve Bank may determine and may be removed from office only by the Reserve Bank.